Hines, one of the world’s largest real-estate groups in terms of assets, is preparing to spend $1.6 billion on buildings in the U.K., doubling its assets in the country in an effort to diversify away from riskier acquisitions.
London looks likely to experience a drought of new housing over the next few years, as construction of homes amid fears of renewed recession and a dearth of mortgage finance, a report from property consultant suggests.
Pundits once mocked Shanghai’s Pudong district, a purpose-built version of Manhattan, as overdesigned and underoccupied. Today, as worries of a Chinese property crash are back in force, Pudong is an unlikely bright spot.
China’s government must resolutely carry out its property-tightening measures with the aim of returning prices to “reasonable levels,” Premier Wen Jiabao said.
E-House (China) Holdings has offered to acquire China Real Estate Information Corp. in a cash-and-stock deal that values China Real Estate at $897.3 million.
North American property buyers returned to the London real-estate market with gusto in the first half of 2011, but market watchers warn that interest may not be enough to stop values from falling in some areas.
Foshan in Guangdong province became China’s first city to say it’s relaxing its curbs on the property market amid mounting concerns that the real-estate sector is in trouble.
Sweden’s property market is in robust health. At the country’s biggest-ever property auction, which got under way in Stockholm this week, 25 properties were sold for a total of $137 million.